At first, voters thought Trump was a better steward of the nation’s economy than Joe Biden. However, since Kamala Harris defeated him in the presidential race, things has changed.
Since the campaign’s inception, nothing like this has occurred. In a crucial area—the economy—American voters now have greater faith in Democratic contender Kamala Harris. a first. Voters did not want the outgoing president, Joe Biden, to take over the reins despite the American economy’s first success. on the “swing states” last summer, 49% of voters were encouraged by Donald Trump’s confidence on economic issues, compared to 39% by Joe Biden. And this, in spite of the 13.9 million jobs created between 2021 and 2023, the year he took office as president. Given the recent surge in inflation and the gloomy outlook in the markets, the octogenarian finds it challenging to mobilize voters who are still undecided by citing his track record in the economy.
Poor perceptions of the ‘Bidenomics’ legacy
But after Joe Biden pulled out of the contest and was replaced by Vice President Kamala Harris, the Democratic party has taken the upper hand once again. According to a survey conducted by the Financial Times and the University of Michigan, 42% of participants believe the new candidate can lead the US economy, while 41% believe Donald Trump can. But even with this little difference, Kamala Harris’s significant contribution to “Bidenomics” is not actually a benefit. The much-anticipated “Biden Boom” has not performed as well as anticipated in the political sphere. If the Democratic candidate is elected, 60% of respondents want her to go in an entirely different way than her predecessor.
It remains to be seen if the “Kamalanomics” that were unveiled on Friday would be able to set itself apart from the Biden administration’s policies. Or, at the very least, in carrying on its unfinished social component while forcing Americans to put their complaints about the “high cost of living” behind them. In 2022, the average cost of a dozen eggs increased to $5.46 (€4.97) from $0.89 (€0.81) in 2020. The observation is straightforward: American inflation is slowing down. This has already resulted in the defeat of other presidential candidates. It is easy to recall Carter’s 1980 defeat to Reagan following a tenure in which inflation rose to 14.5 percent. By the time the 2024 election approaches, it is obvious that the “wallet” vote has the potential to prevail.
A close contest for the presidency and a race for cheaper goods
The new Democratic presidential ticket has made it plain that bolstering support and protection systems would be the centerpiece of its agenda. “My first priority as president will be to lower prices,” Kamala Harris said on X, the former Twitter platform, on Friday. “I will tackle large companies that practice abusive prices and landlords who unfairly increase the rents of working families.” Considering the financial predicament that many American households find themselves in—of which 78% see rising costs as a primary source—this initiative is important.
But while having a different agenda and set of goals, Donald Trump likewise supports “lower consumer prices.” This Wednesday, the candidate released his economic platform with his opponent, saying that each cabinet member will address this issue if elected. convincing? It could be that voters are sensitive to his remarks because, in contrast to Kamala Harris, who has a 33% approval rating, 45% of respondents believe that his economic policies would improve their financial circumstances.
Regarding the trade dispute with China, the poll also supports the Republican candidate: 43% of respondents think Trump would be more qualified to handle the issue, compared to 39% who support Kamala Harris. Tight numbers, the effects of which will be clearly seen during the presidential elections in November 2024. But one thing is for sure: this election will have a rich battlefield in the form of the economy. It will be a pivotal problem, and the victor will depend on who can take it the best to win…
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